Government Cash Management

I can offer: policy advice, project management, training and mentoring covering:

• Passive and active cash management strategies
  • International practice [Presentation]
  • Managing the Treasury Single Account
  • Smoothing cash flows; rough tuning and fine tuning
  • Short-term borrowing and lending strategies
  • Coordination with Debt Management [Presentation]
• Cash forecasting [Note on Forecasting in UK]
  • Database requirements
  • Techniques and information availability
  [Presentation to PEMPAL Treasury Community of Practice]
  • Calculation of the Cash Flow Buffer [Presentation to PEMPAL Treasury Community of Practice]
• Interaction with budget policy and execution, and monetary policy
  • Co-ordination with fiscal policy; budget planning and budget execution
  • Information flows
  • Co-ordination with monetary policy; respective responsibilities with central bank; day-to-day interaction, including end-of-day balancing of accounts 
  [Presentation to DMF Stakeholders' Conference]
  • MOUs and service level agreements with central bank
  [Presentation to PEMPAL Treasury Community of Practice]
• Money market development
  • Range of instruments
  • Building bill and repo markets
  [World Bank Webinar Presentation on repo]
  • Co-ordination with central bank and financial regulators.

Relevant Publications

Mike Williams: "Government Cash Management: Good and Bad Practice" (2004)
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Mike Williams "Government Cash Management: International Practice" (Oxford Policy Management Working Paper 2009)"
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Mike Williams "Cash Management: its Interaction with other Financial Policies" (IMF, Fiscal Affairs Department, 2010)"
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Mike Williams and Mario Pessoa "Cash Management: Relationship between the Treasury and the Central Bank" (IMF, Fiscal Affairs Department, 2013)
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Mike Williams and others "How to Develop a Framework for the Investment of Temporary Government Cash Surpluses" (IMF, Fiscal Affairs Department, 2020)
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Mike Williams and others "Cash and Debt Management: Interaction, Co-ordination and Integration“ in Carlos Pimenta and Mario Pessoa, eds, Public Financial Management in Latin America: the Key to Efficiency and Transparency (IDB, 2015)

Mike Williams "The Treasury Function and the Treasury Single Account” (Chapter 16) and “Debt and Cash Management” (Chapter 31) in R Allen, R Hemming & B Potter, eds, The International Handbook of Public Financial Management (Palgrave Macmillan, 2013)

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Background | Government Debt Management | Government Cash Management | Institutional Capacity Building, Risk Management and Governance